Turkish bank Kuveyt Türk has issued the country’s
first sukuk – a complex three-year $100 million
facility combining both ijara and murabaha
features.
“Kuveyt Türk’s challenge was to put out a
sukuk that would be on a level-playing field with a
conventional Turkish bond,” said Rahail Ali, co-managing
partner at Hogan Lovells in Dubai who advised lead managers
Citi and Liquidity House.
Since...